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Fly News Breaks for May 27, 2015
BRCM
May 27, 2015 | 09:28 EDT
BofA/Merrill said Broadcom WiFi concerns are misplaced and the company's offerings are very complementary with the trend towards use of discrete mobile chips in high-end smartphones. Additionally, the firm said Broadcom's Tomahawk switch is on the cusp of leading new 25Gig Ethernet cycle in data center and it has an improving competitive position in set top boxes vs STMicro, its main rival. Shares of Broadcom are Buy rated with a $54 price target.
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